The present invention relates to an exchanger apparatus for exchanging foreign monies or securities such as traveller's cheques into domestic currency.
The adoption of the floating exchange rate system has given rise to exchange rates which frequently change. As a result, the exchange of foreign monies for domestic currency requires that conversion be made according to an exchange rate indicated daily, although this troublesome calculation was unnecessary when the fixed exchange rate system was in effect. The money exchange operation has therefore become very complicated. This had led to delays at places where foreign entrants gather, for example, harbors, air ports and hotels. Such individuals are required to wait for a long period of time and are highly inconvenienced.